THE POTENTIAL FOR GEOLOGICAL SEQUESTRATION OF CO2 IN AUSTRALIA: PRELIMINARY FINDINGS AND IMPLICATIONS FOR NEW GAS FIELD DEVELOPMENT

Abstract

Many industries and researchers have been examining ways of substantially reducing greenhouse gas emissions. No single method is likely to be a panacea, although some options do show considerable promise. Geological sequestration is one option that utilises mature technology and has the potential to sequester large volumes of CO2. This technology may have particular relevance to some of Australia’s major gas resources that are relatively high in CO2. In Australia, geological sequestration has been the subject of research within the Australian Petroleum Cooperative Research Centre’s GEODISC program. A portfolio of potential geological sequestration sites (sinks) has been identified across all sedimentary basins in Australia, and these have been compared with nearby known or potential CO2 emission sources, including natural gas resources. These sources have been identified by incorporating detailed analysis of the national greenhouse gas emission databases with other publicly available data, a process that resulted in recognition of eight regional emission nodes. An earlier generic economic model for geological sequestration in Australia has been updated to accommodate the changes arising from this process of source to sink matching. Preliminary findings have established the relative attractiveness of potential injection sites through a ranking approach. It includes the ability to accommodate the volumes of sequesterable greenhouse gas emissions predicted for the adjacent region, the costs involved in transport, sequestration and ongoing operations, and a variety of technical geological risks. Some nodes with high volumes of emissions and low sequestration costs clearly appear to be suitable, whilst others with technical and economic issues appear to be problematic. This assessment may require further refinement once findings are completed from the GEODISC site-specific research currently underway.